Macro - Country Economic Forecasts - Portugal
We've kept our GDP growth forecasts for Portugal unchanged at 1.7% for 2024 and 1.9% for 2025. Although growth disappointed at 0.2% q/q in Q2 2024, we think the outlook remains solid. Improving real disposable incomes and the EU's Recovery and Resilience Facility will support growth. The economy will also benefit from continued strong tourism activity, but as tourism growth normalises, we think domestic demand will be the main growth engine.
- Portugal: Budget 2025's approval remains uncertain
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Risk warnings
- What to watch out for
- Exposure to key global risks
- Long-term prospects
- Background
- Economic development
- Structure of the economy
- Balance of payments and structure of trade
- Policy
- Politics
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